US, Canada and partners sign critical minerals supply pact

The US State Department yesterday announced that a new partnership has been established between the US, Canada and other allied countries with regards to securing supply of minerals critical to clean energy and other technologies.

Significantly higher quantities of critical minerals, including lithium, nickel and cobalt, will be required to meet emissions reduction goals, said US Under Secretary for Economic Growth, Energy, and the Environment Jose Fernandez.

“You will need six times more lithium by 2050 than you use today in order to meet the clean energy goals,” Fernandez said, speaking from Toronto, where the 2022 PDAC Convention is currently taking place. Canada ‘is an important supplier of critical minerals’, he added.

Canada’s Natural Resources minister Jonathan Wilkinson has been front and centre during the opening days of PDAC. In the opening ceremony of the world’s biggest annual mining event, he told delegates that Canada was working to strengthen the Canada-US critical minerals action plan.

The new Minerals Security Partnership includes Australia, Finland, France, Germany, Japan, South Korea, Sweden, the United Kingdom and the European Commission, in addition to the US and Canada.

It will aim to ‘catalyse investment from governments and the private sector for strategic opportunities…that adhere to the highest environmental, social, and governance standards’, the State Department said in a statement.